MINIMUM WAGE IN THE EU COUNTRIES

The minimum wage is an important economic and social tool. It has two basic functions: social-protection and economic-objective functions. Except that it fulfills a lot of derived functions. Especially, the minimum wage forms the psychological frontier, from which are derived the other wages within the national economy. It is also very important tool for redistribution of income in society. The minimum wage helps to reduce sources of tension arising from a sense of unfair income distribution and redistribution. Finally, the minimum wage can be an important regulatory instrument of macroeconomic policy, through which it is possible to follow (monitor) the specific targets of economic stability and grow. In article is explained the minimum wage institute in the EU countries and are also explicated the differences in the minimum wage fixing. Using the method of comparative analysis (above all) it is looking for answer to the question: There are conditions for further increasing the minimum wage in the Czech Republic?